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Consumer Zest Remains Strong despite Rising Gold Price

时间:2016-02-22 07:55来源:未知 作者:voa365 点击:

Since the beginning of February, the price of gold has been rising rapidly.

The value of the commodity has gained nearly 20 percent compared to early January.

However, this has not dampened the enthusiasm for gold among Chinese consumers, especially those who are shopping for jewelry.


International gold price witnessed a marked weekly rise of more than 7 percent in the early February. This is the fastest weekly growth in 7 years. But, consumers throughout the country remained passionate for purchasing gold despite the sharp rise.


The Caibai Jewelry in the Chinese capital Beijing has reflected the bustling gold market in China somehow; many people are looking for gold products.
Li Yang is the gold stock analyst with the Beijing Caibai Jewelry.


"The lowest international gold price in the year hit 1,061 U.S. dollars [per ounce]. The international gold price picked up to reach 1,263 U.S. dollars [per ounce]."


In a gold jewelry shop in Shijiazhuang, capital city of Hebei Province, Ms. Li, a customer says:


"The rise in gold price has little impact on my desire to buy gold. I just want to buy some small items."


The manager of the gold shop explains:


"The rise in gold price has not dampened consumers' zest for gold jewelry. Most of them come here for the gold jewelry in the shape of monkey. The gold jewelry like bracelets, pendants and zodiac gold bars sell well. The sales volume is up 30 percent year-on-year."
A financial manager elaborates that the gold market is attracting more investers this year.


"The purchase volume, demand and zest for gold are all higher compared with last year. Many investors are paying attention to this market again."
Down south, in a shopping mall in Guangzhou, capital city of south China's Guangdong Province, a series of gold jewelry sales campaigns have attracted a large number of consumers.


Liang Jianfeng is a chartered gold investment analyst.


"As people feel pessimistic after the Federal Reserve raised interest rate and other investing channels, like the stock market, are sluggish around the world, I think consumers' passion for gold will remain for a while."


Market insiders said the demand for gold will keep increasing due to the global economic recession and turbulence in the stock market.


According to a report released by the World Gold Council, the demand for gold from the global market in 2015 was virtually unchanged compared with 2014.
Roland Wang is the Managing Director of World Gold Council in China.


"There was a relatively lower price point in the fourth quarter of 2015, thus the investors entered the market and increased purchases of gold for investments."


The World Gold Council said China and India were the mainstays of the global market, with their total demand accounting for nearly 45 percent of the global demand.